TL;DRCognition AI has raised more than $1 billion at a $26 billion valuation for Devin, its AI coding agent. Revenue grew from $37 million to $492 million in 12 months, with Goldman Sachs, Mercedes-Benz, and the US government among its customers.
Cognition AI has raised more than $1 billion in new funding at a $26 billion valuation, more than doubling its worth since a September round that valued the company at $10.2 billion. The round was co-led by Lux Capital, General Catalyst, and 8VC, with participation from Ribbit Capital, Atreides Management, and Peter Thiel’s Founders Fund. The company has now raised more than $2.5 billion in total funding.
The numbers behind the valuation tell the story. Cognition’s revenue run rate has grown from $37 million in May 2025 to $492 million today, a 13-fold increase in 12 months. The company says it aims to cross $1 billion in annualised revenue later this year. Its customers include Goldman Sachs, Mercedes-Benz, NASA, Santander, and several parts of the US government.
What Devin does
Cognition’s flagship product is Devin, an AI agent designed to automate the programming process end-to-end. Unlike code completion tools that suggest lines or blocks of code while a human developer writes, Devin operates as a full coding agent that can take a task description and produce working software autonomously. It plans, writes, debugs, and deploys code across complex multi-step workflows.
